London midday: Shares still lower as Libya crisis continues
24th Feb 2011 12:11
Shares are stuck in the red as the oil price stays high amid ongoing turmoil in Libya. The north African country itself only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Saudi Arabia and Algeria. Brent crude jumped to $119.79
Read moreLondon open: Fourth day of falls as oil passes $119
24th Feb 2011 08:31
Shares are down for the fourth day in a row as the Libyan crisis continues to cast a shadow. Today's stream of company results has been given a mixed reception. Worries over the ongoing crisis in Libya - and concerns that other oil rich nations could be affected by protsests - continue to drive the
Read moreLondon pre-open: Light at end of RBS tunnel
24th Feb 2011 07:34
London cannot seem to find forward gear this week, with concerns about Libyan and the soaring oil price continuing to weigh on investors' minds. The blue-chip index is expected to dive below 5,900 at the outset, with City sources predicting a fall of around 35 points from yesterday's close of 5,924
Read moreCentrica enjoys cold weather boost
24th Feb 2011 06:01
Profits soared at British Gas owner Centrica in the year to 31 December as the cold weather towards the end of last year forced homeowners to crank up the heating. Pre-tax profits climbed to £2.8bn from £996m the previous year on revenues that rose to £22.4bn from £22bn. Revenues in the UK downstr
Read moreLondon close: Shares slump as Libya worries linger
23rd Feb 2011 16:52
More weakness in the US helped send shares in London sharply lower, with the Libyan crisis and the consequent higher oil price weighing on sentiment. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm, though it has dipped down below $109 again since then. The $3+
Read moreThursday preview: RBS, Centrica, Capita ...
23rd Feb 2011 16:36
Thursday is the big day for results, as usual, with the likes of British American Tobacco, Barratt Developments, Capita, Centrica, National Express, Royal Bank of Scotland, RSA Insurance and St. James's Place all updating the market. Nomura Securities is predicting total 2010 operating profit for R
Read moreLondon afternoon: Oil lubricates slippery slope
23rd Feb 2011 14:22
An attempted rally in the morning was already fizzling out as the afternoon started, and prices continued to drift lower over the lunchtime trading session, as investors continue to fret about the higher oil price. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm
Read moreCentrica signs £2bn Qatar gas deal
23rd Feb 2011 12:39
British Gas owner Centrica underlined the importance of the Middle East for British interests today with the announcement that it has signed a £2bn deal with Qatar to secure enough liquefied natural gas (LNG) to meet 10% of household gas demands. Centrica, whose chief executive Sam Laidlaw was in t
Read moreMonday newspaper round-up: Energy groups, Retail sales, RBS...
7th Feb 2011 06:42
The big six energy companies could be driven from Britain if they are treated too harshly in any pricing investigation, a senior minister has told The Times. In an intervention likely to put pressure on regulators, Charles Hendry said that suppliers might be too important to future energy security
Read moreGas bills surge despite less usage
2nd Feb 2011 12:58
UK gas bills have soared by more than 50% over the past five years despite British households using 17% less gas, new research has found. The research, carried out by think tank Centre for Economics and Business Research (CEBR), found households now use 16,000 kilowatt hours per year, compared to 2
Read moreMonday newspaper round-up: Barclays, Cocoa, Centrica...
24th Jan 2011 06:42
Bob Diamond will stamp his authority on Barclays next month, when the incoming chief executive announces a radical overhaul of the way it pays its top bankers. According to people close to the plans, Mr Diamond aims to use innovative bonds - so-called contingent convertibles, or cocos - to pay a la
Read moreLondon close: More gains for FTSE 100
12th Jan 2011 16:43
Strong financial and mining stocks helped to drive the top share index higher Wednesday, while M&A activity and company updates had some FTSE 250 constituents soaring. HSBC went well, helped by a "buy" recommendation from Barclays Capital, but fellow banks Standard Chartered and Barclays were also
Read moreSector movers: Banks wanted as eurozone fears ease
12th Jan 2011 15:25
The banking sector is performing well Wednesday as eurozone debt contagion fears recede. HSBC is the best performing financial, helped by a "buy" recommendation from Barclays Capital, but fellow banks Standard Chartered and Barclays are also wanted. The sector responded positively to the outcome o
Read moreLondon afternoon: Miners and banks lead the advance
12th Jan 2011 14:35
Footsie is continuing to keep its head above water, not to mention 6,000, but it is largely thanks to the strength of miners and financial stocks, with the latter in demand after Portugal's bond auction proved relatively successful. HSBC is the best performing financial, helped by a "buy" recommend
Read moreLondon midday: Stocks add more gains
12th Jan 2011 12:07
Miners continue to keep the FTSE 100 in the blue, adding to yesterday's gains, while three stocks in the FTSE 250 are posting triple-digit gains. Supermarket giant J Sainsbury had its best Christmas ever, with better than expected sales, a growing market share and a record number of customers desp
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